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Spirax-Sarco Engineering agreed to acquire the Gestra division of Flowserve, a Bremen-based maker of steam and fluid control valves, for EUR 186 million on a cash-free, debt-free basis, with the purchase contract signed on 31 March 2017.
Spirax-Sarco Engineering signed a conditional agreement to buy Gestra AG and associated businesses from Flowserve for a cash-free, debt-free consideration of EUR 186 million. Gestra is headquartered in Bremen, Germany and makes boiler control systems, valves and steam control equipment. Completion awaits German merger control approval.
Flowserve entered a conditional sale and purchase agreement to sell Gestra AG and associated businesses to Spirax-Sarco Engineering for EUR 186 million. Gestra makes steam and boiler control valves and systems.
